The motor guy
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- Nov 29, 2009
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I'm a fan of buying on the peaks and selling on lows all the way to the top.@The motor guy what @Astro14 is talking about in #104 will happen; which is precisely why you don't put all your eggs in one basket. Diversity and time are the key components in building wealth.
I actually look at investing and wealth differently; my methodology is contingency planning. What if, what if and what if. After many years of being broke and homeless, I had to change and knew I had little time left to do so. I had to narrow down my priorities. Housing was #1. Wheels to get to work and school. Long term investing, starting simply and adding investment products (and education) as things permitted.
Forget the short term; it's just a blip on the radar. Yeah, we live in the short term, but if short term big gains really worked, everyone would do it. Where do you wanna be when you are 60, 70 or ??? I have been on both sides of money and I can tell you it is a lot better to be the one who can give a little than to be the one who needs a little.
I wish you luck.